While betting the farm or spending a ton of time analyzing bounce data is not very efficient, keeping an eye on that stat is certainly worth some effort. There could be a half dozen good reasons to check once in a while, based on updates, changes to a site including index layout changes, adding page information, removal of page info or actual pages, etc. You just don't get out the magnifying glass or check hourly. IMO, if there is some noticible wild fluctuations, it's probably a byproduct of changes being done/made amongst a few other possibles.
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